- The Nasdaq closed 0.5% higher on Friday at 13,900.
- Chinese regulators fined Alibaba $3.7bn for anti-competition behaviour.
- Boeing issued a grounding note for some 737 MAX jets over a possible fault.
The US markets finished higher on Friday and gained across the three key indexes for the week, with the Nasdaq posting the greatest gain of 3.1%. The rally in US stocks on Friday was driven by investor optimism ahead of quarterly earnings season this week.
The Dow Jones rose 0.9% to finish the trading day up 297 points to close at 33,801 points, and gained nearly 2% for the week. Both the Dow Jones and S&P500 closed at record highs on Friday.
The tech heavy NASDAQ rose 0.5% to finish the trading day up 71 points to close at 13,900 points with Amazon and Apple gaining 2.21% and 2.02% respectively.
One bitcoin is worth US$59,933 going into the Asian trading day.
The Australian dollar is stronger against the major currencies and is buying 76.26 US cents.
Chinese regulators have slapped Alibaba with a $3.7bn fine for anti-competitive behaviour. The world?s biggest e-commerce company was fined for ?abusing its dominant position? to limit competition by retailers that use its platform. Alibaba made a statement accepting the penalty.
Just as airlines began resuming flights using the Boeing 737 MAX jets, Boeing issued a note to 16 airlines advising of a potential electrical problem with the MAX jets. The company recommended they ground the jets temporarily. Boeing shares closed 1% lower on Friday.
And Iron man looking suits are becoming increasingly mainstream as SuitX expands the use of its robotic suits to General Motors workers in an attempt to prevent muscle fatigue and tiredness.